Azerbaijan unveils business lending details

The Azerbaijani Entrepreneurship Development Fund allocated 193.8 million manat ($114 million) in concessional loans in 2023.

“To enhance the accessibility of financial resources for business entities, in 2023, the Entrepreneurship Development Fund allocated 193.8 million manat in concessional loans, supporting the financing of 3,276 investment projects with a total investment volume of 459.9 million manat [$270.5 million]. This initiative resulted in the creation of over 3,000 new jobs. Notably, 99.8 per cent of the loans were extended to micro, small, and medium-sized businesses in terms of project numbers, and 91.1 per cent in terms of loan amounts,” Caliber.Az reports citing Azerbaijani Economy Minister Mikayil Jabbarov’s message on X. 

To enhance the accessibility of financial resources for business entities, in 2023, the Entrepreneurship Development Fund (@sahibkarliq) allocated 193.8 mln. ₼ in #concessionalloans, supporting the financing of 3,276 #investment projects with a total investment volume of 459.9… pic.twitter.com/OKKXVQLtQJ

— Mikayil Jabbarov (@MikayilJabbarov) January 29, 2024